Unreasonable good financials projected for Stonehorse Energy

Q&A fromInvestors hub between investors and David Deloub the CEO of Stonehorse Energy

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Hi David,

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Great team you have built in Alberta who made mention of lots of opportunities in Alberta, and thank you for previously answering questions on Stonehorse energy and its exciting future.

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You indicated that Stonehorse Energy intention is to reach a target of 2000 BOE/day in to 2 to 3 year time.

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That would seem to imply that Stonehorse Energy would need to take a Net working interest in other wells to achieve the target production of 2000 BOE/day.

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Question 1).

Does this mean that if well Certus-1-27-33 goes as planned then you will be bringing out more wells over the next 12 months in Canada?

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David’s Answer: 17/08/2023

“1. Yes, if Certus produces as expected, we have the opportunity to participate in afollow-on well with them. In addition to the Certus relationship we have a number of other prospects we are currentlyprogressing. “

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Questions 2) 17/08/2023

If this is the case then do you anticipate that Stonehorse Energy are going to taking a NWI in 4 or more wells per year?

If not then what is the expected number of wells you expect to bring online in the next 12 months ?

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David’s Answer:

“2. Hard to pin down a number on this but we would expect to be investing in multiple wells peryear. This would make that target production volume well within reach in a reasonable timeframe “.

Reg.ards.

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Question 3 ) 2023/08/09 (Previous Q&A just over 1 week earlier.)

You mentioned in an earlier answer that as a rough guide a target of 2000 BOE/Day as being a criteria before dividends could be issued. Is this likely to be achievable within 3 to 4 years?

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Q3. Yes, we are planning to achieve this in 2-3 years.

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Kind Regards

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